Bitcoin News: Bulls Face Critical Test as BTC Aims for $100K Breakthrough

Bitcoin is currently in a pivotal phase as it attempts to breach the $100,000 mark, a significant milestone for the cryptocurrency. After initiating a recovery wave above the $98,000 zone, BTC is now trading above $98,500 and the 100-hourly Simple Moving Average. A bullish trend line with support at $98,000 is forming on the hourly chart, indicating potential for further upward momentum. This moment could determine whether Bitcoin's bullish trend will continue or face resistance.

Bitcoin Price Reaches $100K: A Make-or-Break Moment for Bulls

Bitcoin price is attempting a recovery wave above the $98,000 zone. BTC is rising and now struggles to settle above the $100,000 zone. Bitcoin started a recovery wave above the $98,000 zone. The price is trading above $98,500 and the 100 hourly Simple moving average. There is a connecting bullish trend line forming with support at $98,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase if it stays above the $95,000 support zone. Bitcoin price started a short-term recovery wave above the $95,000 zone. BTC was able to climb above the $96,500 and $97,200 levels. The bulls were able to push the price above the key barrier at $98,000. The price even cleared $98,800. A high was formed at $100,731 and the price is now consolidating gains.

Anthony Pompliano’s Bitcoin Proposal: ‘BTC Could Go Much, Much Higher’

Renowned Bitcoin advocate Anthony Pompliano has proposed a bold agenda for President-elect Donald Trump to drive BTC adoption in the United States. In a recent video shared on X (formerly Twitter), Pompliano highlighted three pivotal strategies, including the repeal of SAB-121, a contentious accounting rule that classifies digital assets like Bitcoin as liabilities on bank balance sheets, thus hindering broad institutional adoption. Pompliano believes these measures could position Trump as a trailblazer in the digital currency revolution.

Bitcoin Breakout Alert: Research Company Head Shares Key Timeline

Markus Thielen, the chief research analyst at 10x Research, predicts a significant price movement for Bitcoin on January 29, 2025, as it may break out of its symmetrical triangle formation. This pattern typically indicates market consolidation and potential for a major price shift. However, Thielen cautions that the outcome is uncertain and could go either way.

Is Bitcoin’s Upward Cycle Back? Key Insights Into The Latest Recovery

Bitcoin (BTC) has rebounded to trade above $99,000 following its significant dip earlier this week. The latest US Consumer Price Index (CPI) news appears to have contributed to this quick recovery, drawing attention from analysts who are closely monitoring key metrics to understand the market’s next move. A CryptoQuant contributor, Crypto Dan, highlighted the Short-Term Spent Output Profit Ratio (SOPR), noting a recurring pattern during correction phases that typically dampens market Optimism before a subsequent rebound. Despite the recent correction, signs point to the potential resumption of an upward cycle in the near future.

Major Victory For Bitfinex: DOJ Declares $9 Billion In Stolen Bitcoin Should Be Returned

The US Department of Justice (DOJ) has stated that around $9 billion in Bitcoin, taken from the crypto exchange Bitfinex in a 2016 hacking incident, ought to be returned to the exchange. This claim arises from a legal document submitted by the DOJ, which indicated that there are no recognizable victims in this specific case within the existing legal structure. The court documents, submitted on Tuesday, explain that the recovery of the stolen Bitcoin—specifically 94,643 BTC, along with amounts from various hard forks—should be returned to Bitfinex. The DOJ argued that under the Mandatory Victim Restitution Act (MVRA), there is no legal basis to classify Bitfinex or its account holders as victims of the specific offenses for which the defendants were charged.